Monday, July 14, 2014

Good Morning America,

Cherry picking took on a new meaning yesterday, as I climbed the orchard ladder to pick cherries as far up as I could reach.  Did I ever tell you that gravity does not take a vacation?  In slow motion, the ladder slid sideways gaining momentum as gravity took over. 

 

I lay in the grass for several moments checking why my body seem to hurt everywhere equally.  Well, there was no one around but me, and so it was no good just lying there.  Bruised and battered, I bring you little news this morning. :( 

 

And yet, I'm glad to only be bruised as I fell at least 20 feet. 

Small Business Outlook

 Sales are starting to pick up, as the tourist arrive from the Coast.  For our country it is hot, and tourists are here to float the river, fish and camp.  No outdoor fires are allowed as the forests are dry tinder ready to explode.

There are no fancy restaurants within 100 miles of us.  People don't come here for eating out.  2 restaurants that were here last year are out of business this year.  No replacements are due, although a number of Indian (not American Indian) families moved down from Canada and bought the two hotels, the two main service stations, and the Laundromat.  Indians that move in a group often start an Indian Restaurant.  That would be a good turn of events if they do.  The families now own more of the business in the county than anyone family or group other than Kinross mines. 

Summary: 

·         Gold is down; way down over the weekend.   What gives?  Goldman Sachs reported on Friday they are still bears on gold.  Maybe that is what is causing the downturn.  It certainly is not because manufacturing in Europe improved after last weeks horrible reports.  It is not because geo-polictical problems in the middle east have lessened.  Ukraine is not wildly better.  So what gives?

·         The pre-trading in futures and overseas US stocks look to start the week on a positive note. The DOW is going to be pushing 17000 right at the beginning. Big Banks are due to report earnings this week.  Citigroup kicks it off. 

·         Portugal debt concerns eased a bit. 

·         The market will open up.  Look for the price to continue moving up for the 1st 1/2 hour at least.  Then it will consolidate.  Unless new news economically or geo-political enters the market, summer trading (low volume and small ranges) will take over.